An ‘Eiopean’ tool to project post retirement income in portuguese defined contribution pension schemes

Ageing of the populations is leading to reforms in Social Security systems with a negative impact on post retirement income. One way to minimize this is to reinforce the role of complementary pension schemes, and pension projections can be an important tool to assist workers in making their decisions on saving for retirement. The topic has been discussed by the European Union (EU) and the European Insurance and Occupational Pensions Authority (EIOPA). This work focuses on a tool for making pension projections in the scope of occupational defined contribution pension schemes, based on EIOPA’s guidance. We aim to study the potential performance of different investment strategies using an Economic Scenario Generator framework and evaluate the impact on the retirement income that such investment strategies produce, under different assumptions. The model underlying the tool takes in three main risk factors: the financial market risk, which includes uncertainty over returns on investments, inflation and interest rates; the labor risk, originated from uncertainty over real wage growth paths; the demographic risk, as a result of the increasing life expectancy.info:eu-repo/semantics/publishedVersio

The Suitability Rule and Economic Theory

The published rules of both the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC) provide that a broker or dealer in the securities market may recommend the purchase of a security only when there is a reasonable basis for believing that the security is suitable for the customer

Applying Real Options Thinking to Information Security in Networked Organizations

An information security strategy of an organization participating in a networked business sets out the plans for designing a variety of actions that ensure confidentiality, availability, and integrity of company’s key information assets. The actions are concerned with authentication and nonrepudiation of authorized users of these assets. We assume that the primary objective of security efforts in a company is improving and sustaining resiliency, which means security contributes to the ability of an organization to withstand discontinuities and disruptive events, to get back to its normal operating state, and to adapt to ever changing risk environments. When companies collaborating in a value web view security as a business issue, risk assessment and cost-benefit analysis techniques are necessary and explicit part of their process of resource allocation and budgeting, no matter if security spendings are treated as capital investment or operating expenditures. This paper contributes to the application of quantitative approaches to assessing risks, costs, and benefits associated with the various components making up the security strategy of a company participating in value networks. We take a risk-based approach to determining what types of security a strategy should include and how much of each type is enough. We adopt a real-options-based perspective of security and make a proposal to value the extent to which alternative components in a security strategy contribute to organizational resiliency and protect key information assets from being impeded, disrupted, or destroyed

The social construction of risk by young people

The purpose of this paper is to provide a critical analysis of a widely accepted risk discourse. This discussion presents a range of data which aims to highlight weaknesses in the widespread application of the 'risk society' thesis (Beck 1992). This paper uses the lives of young people as a context specific example. This selection of quantitative and qualitative data, taken from a school-based case study, is juxtaposed against theoretical reasoning throughout this paper. Three main assumptions made by the 'risk society' thesis are critiqued using this empirical data: (1) risk is a negative concept, (2) risk is aligned with uncertainty and worry, and (3) those living in the 'risk society' have become sceptical of expert opinions. The conclusion suggests that by using pockets of mixed methodology the extensive acceptance of the 'risk society' thesis can be critiqued. By stimulating this debate it becomes clear that each of the individual criticisms need further research. This paper provides a platform for future empirical work which would look to strengthen the social constructionist framework involved in an appreciation of risk, moving away from the recent trend in grand risk theorising, to context specific data collection and explanation